Last week, the price of pepper futures turned up hot due to some speculation activities in the context of tight supply and demand remained very strong.
Due to the sharp fall in the Rupee exchange rate, pepper imports have become expensive, forcing value-added industries to buy from indigenous sources.
These phenomena combined with strong domestic demand have pushed prices up, market sources said.
Heavy rains in the main pepper areas of Kerala and Karnataka states stopped the harvest. Many local traders who have purchased a very limited amount earlier predict that prices will fall when new crops hit the market. But, contrary to their expectations, prices have held firm high all the time.
Vietnam is believed to have exported about 85,000 tons of pepper in the first six months of this year. As a result, Vietnamese farmers may not sell at lower prices as the supply is exhausted.
Indonesia remained quiet due to the new crop expected to hit the market in mid-July. Brazil, too, the new crop can only hit the market around the end of September, early October
Under these circumstances, the main source of supply today, outside Vietnam, is India and if Indian prices remain competitive some businesses may come to Malabar to source goods in the coming days.
At the same time, the lack of available pepper can create a problem. That is the current situation that can help the number of pepper being held in the warehouse of the floor last December increased prices to what shippers expected.
Last week, the National Commodity Exchange (NMCE) contract for July, August and September increased by Rs 2,112, Rs 2,106 and 1,962 Rs respectively to close at Rs 40,929 a quintal, Rs 41,000 a quintal and Rs 40,701 / quintal on Saturday.
Similarly, on the IPSTA, three active contracts increased by Rs 3,000, Rs 2,940 and Rs 2,940 respectively to close at Rs 40,435 a quintal, Rs 40,313 a quintal and Rs 40,314 a quintal (approximately $ 6,797 / ton, respectively). USD 6,776 / ton and 6,776 USD / ton).
Spot prices soared to Rs 3,800 to close at Rs 39,500 a quintal (US $ 6,639 / ton) for the pintle and Rs 41,000 / quintal (US $ 6,892 / ton) for the selected type, on strong demand. strong in the context of tight supply. (1 USD = 59.4932 Rupees)
Indian parity in the international market is at USD 7,050 per tonne (c &) for European deliveries and around USD 7,200 per tonne (c & f) for US shipments for July delivery. .
Source Giacaphe.vn
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